普冉股份上半年预盈4000万元 “存储+”系列产品市场份额持续提升

Core Viewpoint - The company expects a slight increase in revenue for the first half of 2025, but a decrease in net profit due to industry cycle changes, strategic investments, and cautious impairment provisions [1][2] Group 1: Company Performance - The company anticipates approximately 905 million yuan in revenue for the first half of 2025, representing a year-on-year increase of about 1% [1] - The net profit attributable to the parent company is projected to be 40 million yuan, showing a decline compared to the same period last year [1] - The company has experienced a decrease in the shipment volume of its main storage chip products due to a slowdown in the overall consumer market recovery [1][2] Group 2: Industry Trends - The global storage industry is expected to enter a strong recovery phase in the first half of 2024, with prices of mainstream large-capacity storage devices continuing to rise [1] - The niche storage market is also experiencing a brief upturn due to supply contraction and gradual demand recovery [1] - By 2025, the industry is moving towards a stable recovery phase, with the company adjusting its supply chain strategy to maintain a high inventory level [1] Group 3: Research and Development - The company continues to focus on new product development, resulting in a significant increase in R&D, management, and sales expenses, totaling an increase of approximately 60 million yuan compared to the same period last year [2] - The introduction of new products has not yet generated substantial revenue to offset the increase in expenses [2] - The company has recognized an increase in asset impairment losses of about 58 million yuan due to cautious inventory impairment provisions [2] Group 4: Future Outlook - The company expects improved operating performance in the second half of the year, driven by the traditional peak season for consumer electronics and the gradual optimization of the storage industry landscape [2] - The rollout of new products is anticipated to contribute positively to the company's performance as they reach mass production and delivery [2]